Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Update

Key Points

• Short interest in Norsk Hydro ASA surged in June, rising 123.1% to 54,038 shares as of June 30. Even so, only about 0.0% of shares were sold short, with a very low short-interest ratio of 0.1 days.
• Analyst sentiment remains cautious overall, with the stock carrying a consensus "Hold" rating. Recent moves included downgrades from Danske, Pareto Securities, and UBS, though Goldman Sachs upgraded the shares to strong-buy.
• The company recently reported Q1 earnings of $0.21 per share, beating estimates, but revenue of $5.18 billion came in below expectations. Shares traded at $9.06, below both the 50-day and 200-day moving averages.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 54,038 shares, a growth of 123.1% from the June 15th total of 24,219 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 495,099 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Danske cut Norsk Hydro ASA from a "hold" rating to a "sell" rating in a research note on Friday, April 17th. Pareto Securities cut shares of Norsk Hydro ASA from a "buy" rating to a "hold" rating in a research note on Thursday, June 11th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. The Goldman Sachs Group upgraded shares of Norsk Hydro ASA from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Finally, UBS Group cut shares of Norsk Hydro ASA from a "buy" rating to a "neutral" rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Norsk Hydro ASA Price Performance

NHYDY traded down $0.20 during trading on Wednesday, reaching $9.06. The stock had a trading volume of 258,994 shares, compared to its average volume of 227,055. The stock has a 50 day moving average of $10.80 and a two-hundred day moving average of $9.97. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $17.92 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.02. Norsk Hydro ASA has a 1-year low of $5.82 and a 1-year high of $13.02.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%.The company had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.42 billion. As a group, equities analysts anticipate that Norsk Hydro ASA will post 0.99 EPS for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world's largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.

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